Filed Under:Markets, Affluent

AIG on the Verge of Federal Regulation

(AP Photos/Mark Lennihan)
(AP Photos/Mark Lennihan)

American International Group is on the verge of becoming the first insurance holding company ever regulated by the federal government.

In a statement, the Treasury Department said last night that it is launching a public offering of $18 billion of AIG stock.

But, the OTS was shut down and its authority to charter and oversee insurance companies shifted to the Office of the Comptroller of the Currency and the Fed through the Dodd-Frank financial services reform law.

The Fed was barred from regulating insurance holding companies through a provision of the 1999 Gramm-Leach-Bliley Act.

Featured Video

Most Recent Videos

Prospects not listening to voice mail? Arrange a phone date

Provided by LIFEHEALTHPRO

Redesigning your phone life is more important than finding the “best words” for a voice mail in today’s culture.

Behind the scenes with Vicki Gunvalson [VIDEO]

Provided by LIFEHEALTHPRO

In this exclusive interview, Vicki Gunvalson shares how she built a $15 million a year annuity business by planning for...

Regulator: Market may need to reinvent LTCI

Provided by LIFEHEALTHPRO

Cioppa says Maine's governor wants to spur the creation of better products.

Dementia: It's more than Alzheimer's

Provided by LIFEHEALTHPRO

An association calls for policymakers to remember lesser-known neurodegenerative conditions.

Related resources

More Resources

Comments

Power your business with up-to-the-minute insurance news, analysis, and best practices from LifeHealthPro Daily eNewsletter – FREE.

Power your business with LifeHealthPro Daily eNewsletter – FREE.

Enter a valid email address.
Close
Nichole Morford

Nichole Morford
Managing Editor

Thank you for subscribing to LifeHealthPro Daily!

Check Out More eNewsletters Now! Close

Advertisement. Closing in 15 seconds.